Life Insurance for Skydivers
- Insurers’ Policies on Skydiving
- Skydiving Hobby and Insurance Coverage
- Insurance Options for Skydiving Enthusiasts
Yes, it is possible to get life insurance if you skydive. Many insurers take into account the activities you engage in when deciding your coverage eligibility. While some may not consider skydiving an extreme sport or even factor it into their assessment, others will. With some insurers, you may need to pay higher monthly premiums or exclude skydiving from your coverage altogether, depending on the insurer’s policies.
Skydiving and Insurance Rates
Should I get insurance for skydiving? Listing skydiving as a hobby on a life insurance application can result in higher rates or even an outright denial of coverage. The answer to whether skydiving is worth the risk depends on individual preferences and risk tolerance.
Nevertheless, you can obtain life insurance if skydiving is a hobby of yours. Your life insurance will generally cost more than someone who doesn’t skydive. Fortunately, there are options available for skydiving enthusiasts that can provide your loved ones with financial protection.
Types of Life Insurance Available for Skydivers
Skydivers can typically get the same types of life insurance coverage as non-skydivers, including term life insurance, whole life insurance, and universal life insurance.
- Term Life Insurance: Provides coverage for a specific term, usually between 10 – 30 years.
- Skydiver-Specific Policy: Designed specifically for skydivers to ensure coverage.
To include your skydiving activities on a life insurance policy, underwriters will need to understand and assess your level of participation. When shopping around for skydiving accident insurance, it’s important to compare policies from multiple insurers to find the best coverage for your lifestyle at a competitive price.
Skydiving and Insurance Decisions
Decide based on personal preference, risk tolerance, and safeguarding your financial future. Be honest applying, investigate exclusions, and consider riders that can modify coverage. Choose what aligns best with your needs, balancing thrill and financial security.